The Secretary for Commerce and Economic Development, Mr Algernon Yau, on his visit to Istanbul, Türkiye, on October 20 (Istanbul time) promoted Hong Kong's unparalleled advantages and its role as a springboard to foster two-way investment and trade with a view to strengthening the partnership between Hong Kong and Türkiye.

     Mr Yau first met with the President of the Investment and Finance Office of the Presidency of the Republic of Türkiye, Mr A Burak Dağlıoğlu, to brief him on Hong Kong's latest economic and trade developments, and major measures to attract enterprises and investment to consolidate the city's position as an international trade centre and business hub. He also introduced the latest establishment of the Task Force on Supporting Mainland Enterprises in Going Global in Hong Kong to assist Mainland enterprises in exploring overseas markets including the Turkish one. They also exchanged views on investment promotion strategies and enhancing collaboration between Hong Kong and Türkiye in various areas including the Belt and Road Initiative.

     Mr Yau then held a business roundtable with members of the Foreign Economic Relations Board of Türkiye to share with them Hong Kong's unique advantages under the "one country, two systems" principle and latest initiatives such as the Northern Metropolis Development and e-commerce to inject economic impetus. In view of the changes in the global economic landscape, various economies are proactively exploring emerging markets to cope with challenges. He noted that Hong Kong is an ideal springboard for Turkish enterprises to tap into the Southeast Asian and the Guangdong-Hong Kong-Macao Greater Bay Area (GBA) markets, while at the same time serving as a key platform for Mainland companies seeking to expand their overseas business to go global via Hong Kong, boosting two-way trade and investment to benefit all.

     Mr Yau also paid a courtesy call on the Governor of Istanbul, Mr Davut Gül, to give him an update on Hong Kong’s latest developments in various fields and exchange views on business and trade collaboration between Hong Kong and Türkiye to forge closer bilateral ties. He also briefed him on the development of the GBA and the business opportunities it presents for Turkish enterprises.

     In the evening, Mr Yau attended a business dinner organised by Invest Hong Kong and the Hong Kong Trade Development Council to promote Hong Kong's premier business environment and unique advantages of being closely connected to both the Mainland and the world. Speaking to some 30 participating business leaders, he said that Türkiye and Hong Kong have very good bilateral trade relationships. The merchandise trade between the two places during the past five years has seen an average growth of about 4 per cent despite the unprecedented hit of the pandemic.

     Mr Yau noted that the two places are both important gateways in their respective regions. Hong Kong is at a strategic location, right at the centre of Asia, enabling the city to serve as the gateway to trade and investments in the Chinese Mainland and the Asian markets. He also shared with the guests Hong Kong's strengths as the world's fifth-largest trading entity (after the Chinese Mainland, the European Union, the United States and Japan), the third-ranked global financial centre, the biggest offshore Renminbi centre and the world's freest economy, among others.

     He encouraged Turkish enterprises to set up their base of regional operations in Hong Kong to enjoy the preferential treatment under the Mainland and Hong Kong Closer Economic Partnership Arrangement to enter the vast Chinese Mainland market. He said that coupled with its simple and low tax system, free flow of capital and vibrant lifestyles and culture, Hong Kong is a stable, open and resilient international hub and a conduit to the Chinese Mainland and the broader Asian region for trade, investment, innovation and people-to-people exchange.

     Before the dinner, Mr Yau took the opportunity to meet with the Chinese Consul-General in Istanbul, Mr Wei Xiaodong, to keep him abreast of Hong Kong's latest developments and efforts to deepen international co-operation and exchange.

     Mr Yau will depart for Tbilisi, Georgia, on October 21 (Istanbul time) to attend the Tbilisi Silk Road Forum.

Ends/Tuesday, October 21, 2025
Issued at HKT 9:00

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